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Question
James and Kamal are sharing profits and losses in the ratio of 5 : 3. They admit Sunil as a partner giving him 1/5 share of profits. Find out the sacrificing ratio.
Options
1 : 3
3 : 1
5 : 3
3 : 5
Solution
5 : 3
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RELATED QUESTIONS
Match List I with List II and select the correct answer using the codes given below:
| List I | List II |
| (i) Sacrificing ratio | 1. Investment fluctuation fund |
| (ii) Old profit sharing ratio | 2. Accumulated profit |
| (iii) Revaluation Account | 3. Goodwill |
| (iv) Capital Account | 4. Unrecorded liability |
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What is sacrificing ratio?
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